ISLAMABAD: Ministry of Commerce and Textile has strongly refused to accept the projected suspension of gas to textile sector during winter 2013-14, saying that such a situation might result in a loss of $3 billion export earnings in the next three months, sources said.
Officials of the Commerce and Textile Ministry were quoted as saying, “If the existing gas requirements are disrupted, the textile sector is likely to lose around $3 billion of export earnings in the next three months”. The Ministry maintains that the proposal to suspend the gas supply to the textile industry for seven days a week through the period from December to February and then six days in March and April will cripple it.
You might also like
The textile exports alone contribute 55 percent of annual Pakistani exports and provide living to 39 percent of industrial workforce. Pakistan is soon to be granted GSP Plus status by EU. Considering the proposed reduction of natural gas, it is feared that textile manufacturers will remain unable to gain benefits from this opportunity.
Keeping in view the entire scenario, Ministry of Commerce and Textile Industry has refused to support gas suspension plan proposed by Petroleum Ministry.
